Bitcoin Forum

Hi, all!

I'm pretty new on the scene here (I've known about bitcoin for less than a week), and I had some opinion questions for you about the future.

Opinions, people. I want to hear what you want to say.

Let's begin by looking at this graph together:
http://bitcoincharts.com/charts/mtgoxUSD#vzcvzpztgSzbgDza1gEMAzm1g10zm2g25 (http://bitcoincharts.com/charts/mtgoxUSD#vzcvzpztgSzbgDza1gEMAzm1g10zm2g25)
Set the chart's timeframe to show all data.

I want to invest in Bitcoins. I really do. I believe in their purpose, their technical prowess, and their potential.

However, there is a crap-ton of volatility here, especially recently, so my insatiable desire to gamble on the market is tempered by that huge Donchian channel in the last two months.

The questions I pose for you are:

1. How do you justify to yourself still being invested in the market with this much volatility?

and

2. Do you think the market is settling down now, and will it trending up, down, or flat?


Cheers!
-John

1)I believe in the cause of bitcoins. What it is attempting (and semi succeeding) to do. I haven't invested much, but I might pay a few bucks more for regular things (For example:I got some easymac off some site) just to keep the sites going. Where there is market, you'll find vendors.

2)I think the market is still going to be all over the place for a while. I believe the problem is all of a sudden SOOOOO many people went "Hey! I can make easy money!" and sell off their BTC. It's that whole supply/demand thing. Bitcoin is self-inflating (as long as there is a demand and people will slowly forget about their btc and/or lose it/). Once the wave of newcomers settles down, and they don't sell off their BTC evertime the market goes up 2 dollars, the prices will steady out.

Just like every other market, bit coins will have their ups and downs.

As someone investing in this I’m expecting plenty of ups and downs but I have a nice exit strategy and I’m not risking what I couldn’t afford to loose.

Could call it a gamble but everything points to me having better odds than I would down the casino lolz.

So over all Yes I expect a rise as the vendors mature and multiply.

Don’t forget the wildcards such as hack's, massive scams, new laws and the media that can all have a shock effect on the market.

But hey I have zero formal education in this so get reading the economic threads. ;)

one thing i like at least here is that there is no margin calls like there is in forex :)

i think it actually been really stable since it dropped down to 10 after 30 and bounced back up. as well if you dont count the mtgox hack which shaved about $2 off the price its been flat overall with a slight down trend.

i guess the real question on any investors mind is will it keep falling, for how long and how much ...  ???

i think if there is enough trade volume each day to cover the amount of bitcoins mined & sold in a day plus those bitcoins people have been holding for along time and then choose to sell that day, eventually there will run out cheap bitcoins and price will start rising again.

well that's my half baked theory im still working on